12 Primary Objectives of Management (Explained)

Objectives of Management

Objectives of Management The objective of management can be referred to as its basic goals. Primarily talking about objectives of management are the decisions, actions, and practices taken by management to bring smoothness and productivity to the organization. Management has an important role in the prosperity and progress of the business by handling the company’s … Read more

12 Importance of Management in the Organization (Explained)

Importance of Management

Importance of Management Why management is important? In this modern yet competitive business environment, the importance of management can not be ignored since every organization’s fundamental success factor is effective management. Do you know, that almost 90% of startups fail during the first five years of their operation – there are many reasons these startups … Read more

12 Features/Characteristics of Management [Explained]

Characteristics of Management

Features/Characteristics of Management Management is a means to optimally guide men, machines, materials, money, and methods in a way that assures the accomplishment of desired goals. Management is a fundamental aspect of an organization and has various characteristics/features. The significant characteristics of management are mentioned below: Goal Focused The first characteristic of management is that … Read more

The 8 Major Functions of Insurance Policy [Explained]

functions of insurance

What are the Functions of Insurance? Insurance is a collective device that aims to minimize insured parties’ financial risks. The followings eight are the main functions of insurance policies. Protects Financially To Insured Parties One of the key functions of an insurance contract is to protect the policyholder financially in case of an unforeseen event … Read more

What is Insurance? Definition, Essentials, Types, Principles, and Benefits

Insurance

What is Insurance? Insurance is a legal agreement between two parties an insurer (insurance company) and the insured (an individual) in which the insured parties receive financial compensation for any unexpected losses and events. In the insurance agreement, insured parties are agreed to pay some money periodically which is called an insurance premium in exchange … Read more

Product Vs. Service – 6 Key Differences [Explained]

difference between product and service

Product Vs. Service Usually, the tangible item is called the product, and an intangible item is a service. The products and services are the core concepts of marketing. In fact, both products and services are the same. Here is how – traditionally products and services are treated differently. But the modern marketing concept suggests that … Read more

What is Pricing? Definition, Importance, Strategies, and Affecting Factors

Pricing

For every product we buy, we have to pay some prices. The price is the main factor for determining the value of the product or service. Pricing determines the prices for the products or services. So, what is the pricing? Let’s understand what it is, its objective, importance, and strategies. What is Pricing? Pricing is … Read more